These Australian Entrepreneurs Just Sold Their Online Renters' App For $15 Million

Chad Stephens (l) and Chris Koch. Photo supplied.

Two young Australia entrepreneurs have just bagged $15 million from an online application which saves renters having to fill out multiple forms.

Chris Koch and Chad Stephens, both aged 33, have sold their online application service 1Form.com to REA Group Ltd, the owner of realestate.com.au.

They created the service in 2006 because they disliked the complex and time-consuming application process involved in renting.

1Form.com allows tenants to store their information in a customisable form which makes applying for multiple properties a quick and easy process.

It mow has 2.3 million registered users in Australia and New Zealand.

“We’re extremely proud to have developed world class innovation here in Australia and are thrilled to also see our work supported and bought by an Australian business,” said Koch.

REA CEO Greg Ellis said the acquisition supports the group’s strategy to connect consumers with property-related services.

“1Form.com supports our stated strategy to connect people with the practical services they need to live their property dreams,” Mr said.

Koch and Stephens are now developing Pop! which already has nearly 100,000 registered users. It gives users control over the personal information they share online.

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